Question

James and Curtis are two friends having a drink at a local bar while they watch hockey. James says to Curtis, "I'll bet you a million bucks the Vancouver Canucks win the Stanley Cup this year." Curtis says, "You're on buddy!" As will always be the case, the Vancouver Canucks do not win the Stanley Cup. Curtis claims that James owes him a million dollars. Does he have a case?

note: please answer in regards to canadian bussiness law subject

Answer 1

As per Canadian business law a contract is an oral or written agreement between 2 or more person which is enforceable by law.

For a contract to be valid it must have following elements:

1) Offer & Acceptance

2) Consideration

3) Consent

4) Lawful Purpose

5) Capacity

In given case Curtis claim on James is invalid because as aper Canadian business law betting, gambling is unlawful activity. So the contract between Curtis & James is invalid as it is not for lawful purpose.